HighTower Advisors LLC Grows Holdings in Tractor Supply (NASDAQ:TSCO)

HighTower Advisors LLC grew its stake in Tractor Supply (NASDAQ:TSCO) by 415.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,140 shares of the specialty retailer’s stock after buying an additional 186,321 shares during the period. HighTower Advisors LLC’s holdings in Tractor Supply were worth $12,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in Tractor Supply in the 4th quarter worth approximately $329,458,000. Meridiem Investment Management Ltd. boosted its stake in shares of Tractor Supply by 398.9% in the 4th quarter. Meridiem Investment Management Ltd. now owns 5,118,785 shares of the specialty retailer’s stock valued at $271,674,000 after purchasing an additional 4,092,808 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Tractor Supply by 3.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,740,864 shares of the specialty retailer’s stock valued at $1,379,260,000 after purchasing an additional 161,503 shares in the last quarter. State Street Corp boosted its stake in shares of Tractor Supply by 1.1% in the 3rd quarter. State Street Corp now owns 4,518,341 shares of the specialty retailer’s stock valued at $1,314,521,000 after purchasing an additional 47,951 shares in the last quarter. Finally, Amundi boosted its stake in shares of Tractor Supply by 495.2% in the 4th quarter. Amundi now owns 4,145,992 shares of the specialty retailer’s stock valued at $225,501,000 after purchasing an additional 3,449,442 shares in the last quarter. Hedge funds and other institutional investors own 98.72% of the company’s stock.

Insider Buying and Selling

In related news, CEO Harry A. Lawton III sold 88,095 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $54.59, for a total value of $4,809,106.05. Following the completion of the transaction, the chief executive officer now directly owns 488,852 shares in the company, valued at $26,686,430.68. This trade represents a 15.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Colin Yankee sold 24,602 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $54.15, for a total transaction of $1,332,198.30. Following the completion of the transaction, the executive vice president now owns 33,645 shares of the company’s stock, valued at approximately $1,821,876.75. The trade was a 42.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,993 shares of company stock worth $7,538,068 in the last three months. 0.24% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TSCO shares. Wells Fargo & Company cut their price objective on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Loop Capital upped their price objective on shares of Tractor Supply from $53.00 to $58.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Bank of America upped their price objective on shares of Tractor Supply from $44.00 to $53.00 and gave the company an “underperform” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Mizuho upped their price objective on shares of Tractor Supply from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tractor Supply currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Tractor Supply Stock Up 0.3 %

Shares of NASDAQ TSCO opened at $51.83 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. Tractor Supply has a 12 month low of $48.30 and a 12 month high of $61.53. The firm has a market capitalization of $27.68 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The firm has a fifty day simple moving average of $55.19 and a two-hundred day simple moving average of $55.74.

Tractor Supply (NASDAQ:TSCO) last issued its quarterly earnings data on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Equities analysts expect that Tractor Supply will post 2.17 earnings per share for the current year.

Tractor Supply announced that its Board of Directors has approved a stock buyback plan on Thursday, February 13th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Tractor Supply Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 7.10%. This is a positive change from Tractor Supply’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, February 26th. Tractor Supply’s dividend payout ratio (DPR) is presently 45.10%.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.